Tag Archives: temporary illiquidity
by Frank Williford
“I cannot guarantee your social security check will go out on the 3rd.”
He probably can’t guarantee the world will not end before the 3rd either.
He obviously knows a statement about the world ending by the 3rd would just be viewed as a silly statement by him. He expects an uninformed public will view a possible delay in social security payments as a world-ending event.
Does Obama understand the difference between being illiquid and being insolvent, or is he trying once again to frighten people into insisting that he gets what he wants. The country is not insolvent. The Treasury has a brief illiquidity problem if it does nothing. Continue reading →